I enjoyed reading today’s front page story in the Wall St. Journal about Royal Bank of Scotland’s multi-brand banking strategy.
People choose a bank for reasons for rational and irrational, says Fred Goodwin, Royal Bank’s plain-spoken chief executive. “It isn’t my job to tell them they made the wrong choice,” he says.
Reminded me of some smaller versions of the same strategy among a couple of bank holding companies here in the US: Great Bay Bancorp here in the San Francisco Bay Area and Synovus in Alabama and Georgia.